been chasing this property bubble, and in order to create this bubble, offering very very high returns and it works for quite a while because property prices were going up and everybody was sort of a win win for everybody. the everybody was sort of a win win for everybody- for everybody. the property developers for everybody. the property developers could for everybody. the property developers could throw - for everybody. the property developers could throw up i developers could throw up buildings that people thought that they needed, and investors would get the returns of ten or 15%. however, bubbles everywhere crashed, united states it happened in 2009, and that s what s happening now. so therefore all these investment products are no longer worth very much. it is a little surprising but the central government is making this into a criminal case because it s basically a lack of regulation. it is not necessarily that anybody who was stealing the money although that s al
day of the temporary truce with hamas. whilst 39 palestinian women and children were released from israeli prisons. hamas and president biden have said they would like to see an extension of the current four day truce but the israeli prime minister has maintained that his country will return to war. our senior international correspondent orla guerin has more. rejoicing in israel after the darkness of recent weeks. the latest group of hostages freed from gaza waved to supporters as they are welcomed home. both israel and hamas are signalling their deal could be extended to free more of those being held. for reunions like this, after 50 days apart, young hostages finally home. emily hand embraced by herfather, thomas, who at one stage believed her dead. now she is free and he says, doing well. yesterday, we finally got emily back from the hands of the gazan terrorists. she s lost a lot of weight from my face and body. but generally doing better than we expected. emily s family
britain s ecomomy is expected to have gone into reverse shrinking by 0.1%. and if that continues for the rest of the year two quarters of negative growth that would constitute a recession. the bank of england has raised the cost of borrowing to a 15 year high, to try to rein in soaring prices, and that s weighing heavily on many businesses and households. on thursday, official data showed a steep jump in the number of people falling behind on mortgage payments. our cost of living correspondent, colletta smith, reports. good morning, donna speaking, how may i help? with rates on the up, more people have been struggling to pay their mortgage bill. don t worry, i m sure we can get this sorted out for you. ..and an increasing number are now officially in arrears. you know, nobody wants to send debt collectors to your door. nobody wants that. that s not what we want. we want to help you, we want to get a solution in place with you, but we can only do that if you give us a ca
Business news live from singapore. 20 years since hong kongs hand over to china is its economy better or worse off . And it has been two decades since the Asian Financial crisis we look at the philippines and why it did better than its regional neighbours in riding out the turmoil. Good morning, asia. Hello, world. Thank you forjoining me for this friday edition of Asia Business report. Im rico hizon. As we told you on newsday this weekend marks 20 years since hong kong saw the end of British Colonial will. Chris patten was the last governor of hong kong, which is one of the major financial hubs of asia. My of the major financial hubs of asia. My colleague asked him if he is concerned about the future of the economy under chinas growing influence. My biggest worry about hong kong wasnt that the tanks would roll in from the north but that hong kong would simply become the richest city in china. I dont think that is going to happen so long as hong kong can hold onto the rule of law, inde
As cabin crew prepare to strike, just weeks after an it crash that stranded thousands. Are cost cuts taking their toll on the Airlines Image . Plus, from the Sick Man Of Asia to one of the regions Fastest Growing economies. We report from the philippines, 20 years on from the Asian Financial crisis. Welcome to World Business report. Im rachel horne. We start with more problems for british airways. Thousands of passengers are learning that their flights have been cancelled because of an unprecedented 16 day strike by some cabin crew, which begins tomorrow, july 1st. On thursday, ba said most flights will operate as normal but it has cancelled a number of long haul departures to and from heathrow. Short haul and flights from other uk airports are unaffected. So whats it all about . The unite union says cabin crew who have taken industrial action over pay in the past have been blacklisted losing benefits like staff travel, concessions and bonuses. Ba estimates around 8 of its total cabin